Prices of spare parts slide

Prices of spare parts have slid in Accra Takoradi and Kumasi but the Spare Part Dealers Association has dismissed suggestions that the high prices before the victory of the opposition was to bring down the government.

Paa Kofi Ansong, Chairman of the Abbosey Okai Spare Parts Dealers Association, told the Ghana News Agency on Thursday that "the reduction is not in support of the incoming government but for the average Ghanaian".

Reacting to speculations that the action of the traders is a directive from the executives, Mr Ansong said the price reduction is due to "an appreciation of the cedi against the dollar". The dollar has come down from 7,200 cedis to 7,000 cedis, he said.

"I must stress that we have not asked anyone to reduce prices," Mr Ansong, who is also the Public Relations Officer for the Ghana Union of Traders Association (GUTA), said.

"How can we ask people to reduce the prices of their goods? Are they not operating a business? I mean we can't just do that. In any case when people are excited, they do all kinds of things."

Prices of some parts have gone down from about 1.8 million cedis to about 1.5 million cedis. Other prices have come down from about 500,000 cedis to about 400,000 and from 100,000 cedis to about 80,000 cedis.

Mr Ansong said the reduction in the prices is spontaneous and people have taken advantage of the situation and are patronising spare parts, with some traders making high turnovers.

He said if operators of all sectors of the economy will go an extra mile to sacrifice a little for the country, it will trickle down to alleviate the socio-economic difficulties facing the ordinary Ghanaian.

He appealed to the in-coming government to be transparent in all its undertakings so as to have the support of the business community, saying a stable economy would promote good governance and instil confidence in the economy.